Does Metro Bank PLC Have More Gas After Reaching 52-Week High?

November 11, 2016November 11, 2016Dolores Ford

The stock of Metro Bank PLC (LON:MTRO) hit a new 52-week high and has GBX 4502.90 target or 53.00% above today’s GBX 2943.07 share price. The 6 months bullish chart indicates low risk for the GBX 2.36B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the GBX 4502.90 price target is reached, the company will be worth GBX 1.25B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.82% or GBX 24.07 on November 11, hitting GBX 2943.07. About 124,691 shares traded hands or 50.25% up from the average. Metro Bank PLC (LON:MTRO) has risen 54.87% since April 13, 2016 and is uptrending. It has outperformed by 48.72% the S&P500.

Metro Bank PLC (LON:MTRO) Ratings Coverage

Out of 5 analysts covering METRO BANK PLC (LON:MTRO), 2 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 40% are positive. METRO BANK PLC has been the topic of 10 analyst reports since March 10, 2016 according to StockzIntelligence Inc. Goldman Sachs downgraded Metro Bank PLC (LON:MTRO) rating on Tuesday, September 27. Goldman Sachs has “Sell” rating and GBX 2050 price target. On Thursday, October 27 the stock rating was maintained by Jefferies with “Buy”. Jefferies maintained it with “Buy” rating and GBX 3000 target price in Tuesday, November 1 report. On Wednesday, April 27 the stock rating was maintained by Goldman Sachs with “Neutral”. The firm has “Sell” rating given on Wednesday, October 26 by Numis Securities.

More notable recent Metro Bank PLC (LON:MTRO) news were published by: Bloomberg.com which released: “Metro Bank Said to Add Snyder to Board, Pick IPO Banks” on October 09, 2015, also Wsj.com with their article: “Will London Bite for Metro Bank’s Dogs, Congas and Lollipops?” published on March 16, 2016, Philly.com published: “Vernon Hill’s Metro Bank scores $566M in UK IPO” on March 07, 2016. More interesting news about Metro Bank PLC (LON:MTRO) were released by: Bloomberg.com and their article: “Why Deep-Pocketed American Moguls Are Backing Metro Bank’s Hill” published on April 06, 2015 as well as Bloomberg.com‘s news article titled: “Metro Bank Said to Seek Private Placing Before IPO Next Year” with publication date: December 08, 2015.

Metro Bank PLC is a deposit-taking and lending institution. The company has a market cap of 2.36 billion GBP. The Bank’s principal activities include provision of banking and related services through stores, telephony, Internet and mobile. It currently has negative earnings. It is focused on retail and small and medium size commercial customers.